Midtown Millworks Office Condominium: Marketing Small Space with Loft Style
“We feel fortunate to acquire such a great space in the Charlotte Corridor, where impressive development projects are taking place.”
Challenge
International Network and Communications (INETCO) engaged Stan Snipes to sell a 4,350-square-foot office condominium in the Midtown Millworks building at 1704 Charlotte Ave. The space, located in a rapidly developing area connecting Midtown, downtown Nashville and a concentration of health care facilities and businesses, required a buyer looking for a mid-sized space with a creative design.
Because many small businesses have rapid growth plans, the owners of these businesses often prefer not to purchase an office, opting to lease until their team grows and they are able to purchase a larger space or stand alone building. The challenge of selling a smaller space is finding a buyer who is comfortable with a purchase that may require expansion in the future.
Solution
Stan capitalized on the Snipe Properties network of brokers, working with his close friend David W Creed, whose client, Midtown Title, was looking to purchase office space with room for growth. Having worked with Big Brothers Big Sisters, which also has space in the Midtown Millworks building, Midtown Title was familiar with the building but was unaware of the potential to purchase a condominium within the development.
Results
- Loft style feel in smaller space. Midtown Title met its desire to purchase an adaptive building with a creative loft style feel, which is typically difficult to find unless the buyer is willing to purchase a much larger stand-alone building.
- Relocation satisfaction. INETCO had the desire to sell so they could move closer to their home in Hendersonville. The sale allowed them to purchase a new office building in their desired location, and Midtown Title was able to purchase space in the highly sought after Charlotte corridor.
- Broker collaboration. By tapping into Snipes extensive network of buyers and sellers as well as their extensive involvement in the Midtown area of Nashville, Stan collaborated to find the perfect buyer for the mid-size loft space and help the sellers achieve their goal of relocating to a new area.10 years.